Topic: How To Invest

Hi Pat, Do you have an opinion on Exeter Resources?

Article Excerpt

Exeter Resource Corp., $2.83, symbol XRC on Toronto (Shares outstanding: 50.3 million; Market cap: $142.4 million), is a Vancouver-based junior exploration company that specializes in gold and silver. Formerly known as Golden Glacier Resources, Exeter is developing its 95%-owned Caspiche gold/copper project in northern Chile and its 80%-owned Cerro Moro gold/silver project in southern Argentina. Exeter is conducting exploration drilling at Caspiche, and expects to have a resource estimate on the project by next month. Caspiche is located halfway between the Cerro Casale gold/copper project, owned by Kinross Gold and Barrick Gold, and Kinross’s producing Refugio mine. (Barrick paid Kinross $805 million for a 51% interest in Cerro Casale in October 2007.) Cerro Casale has estimated reserves of 22.9 million ounces of gold and 5.8 billion pounds of copper. The Refugio mine has reserves of over six million ounces of gold. Exeter is also drilling at Cerro Moro, and hopes to have a resource estimate ready by May. Like Caspiche, Cerro…